Wrigley Partington

Chartered Accountants & Business Advisors

Capital Gains Tax

Tax and accountancy
  2021/22 2020/21
Taxed as top slice of savings income     
Up to £37,700 ( £37,500 in 2020/21)

10%

10%
From £37,700  20% 20%
*Certain residential property is taxed at higher rates of 18%/28% respectively    
30 day Report & Pay requirement where a UK resdiential property is diposed of by a UK resident and where there is liability to capital gains tax    
Annual Exemption Amount    
- individual £12,300 £12,300
- settlement £6,150 £6,150
 
Transfers between spouses and civil partners living together are exempt.
Gains which qualify for Business Asset Disposal are charged at 10% for the first "lifetime" £1 million
Various other reliefs may be available for certain assets 
Indexation allowance abolished for individuals after 5 April 2008 and has been "frozen" for companies from 1 January 2018.

 

Address

Wrigley Partington Chartered Accountants

Sterling House

501 Middleton Road

Chadderton, Oldham

OL9 9LY